Popular, Inc. $BPOP Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its holdings in Popular, Inc. (NASDAQ:BPOP) by 14.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,167 shares of the bank’s stock after selling 3,017 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Popular were worth $2,983,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of Popular by 56.2% during the third quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank’s stock valued at $376,314,000 after buying an additional 1,065,452 shares during the last quarter. Norges Bank purchased a new stake in shares of Popular in the fourth quarter worth about $104,955,000. Panagora Asset Management Inc. boosted its position in Popular by 85.2% in the 4th quarter. Panagora Asset Management Inc. now owns 680,282 shares of the bank’s stock worth $84,709,000 after purchasing an additional 312,984 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Popular by 2,752.6% during the third quarter. Balyasny Asset Management L.P. now owns 312,447 shares of the bank’s stock valued at $39,684,000 after buying an additional 301,494 shares during the period. Finally, Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Popular during the 4th quarter valued at about $24,841,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Popular Stock Performance

Shares of Popular stock opened at $177.03 on Friday. Popular, Inc. has a one year low of $108.74 and a one year high of $179.00. The company has a market cap of $11.29 billion, a PE ratio of 11.96, a P/E/G ratio of 0.68 and a beta of 0.61. The business has a 50-day simple moving average of $167.99 and a 200-day simple moving average of $150.87.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.72 by $0.63. The business had revenue of $846.92 million for the quarter, compared to analyst estimates of $878.41 million. Popular had a net margin of 21.37% and a return on equity of 15.47%. During the same period last year, the business earned $3.09 EPS. On average, sell-side analysts predict that Popular, Inc. will post 15.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BPOP shares. Royal Bank Of Canada lifted their price target on shares of Popular from $163.00 to $181.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Truist Financial upped their price target on Popular from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wells Fargo & Company raised their price objective on shares of Popular from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods upped their price target on Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Benchmark increased their price objective on shares of Popular from $201.00 to $214.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $186.92.

Insider Buying and Selling

In other Popular news, EVP Lidio Soriano sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $174.50, for a total transaction of $523,500.00. Following the sale, the executive vice president owned 107,320 shares of the company’s stock, valued at approximately $18,727,340. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Javier D. Ferrer sold 35,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $175.43, for a total transaction of $6,140,050.00. Following the completion of the transaction, the chief executive officer directly owned 96,478 shares in the company, valued at $16,925,135.54. This trade represents a 26.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 53,261 shares of company stock valued at $9,336,093 over the last three months. 2.13% of the stock is currently owned by insiders.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.